Derivatives (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

As of September 30, 2023, the Company had the following designated and non-designated outstanding forward and option contract amounts that were entered into to hedge foreign currency transactions in currencies other than the functional currency and forecasted transactions in currencies other than the functional currency (in thousands):

Functional Currency		Contract Currency
Type	Amount	Type	Amount
Brazilian real	154,113	Euro	28,202
Brazilian real	3,152,853	U.S. dollar	768,550
Euro	49,053	U.S. dollar	52,542
Euro	36,246	Polish zloty	165,500
Euro	14,300	Japanese yen	2,241,486
Euro	25,240	Chinese renminbi	196,576
Euro	19,001	Australian dollar	31,860
Euro	5,997	British pound	5,213
Euro	104	Canadian dollar	150
Polish zloty	678	U.S. dollar	157
Polish zloty	34,443	Euro	7,497
British pound	159	Euro	183
British pound	231	U.S. dollar	282
Japanese yen	242,161	U.S. dollar	1,716
U.S. dollar	440	Japanese yen	65,000
U.S. dollar	562,340	Euro	519,182
Australian dollar	174	Euro	105
Australian dollar	164	U.S. dollar	105

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The table below summarizes the effect of derivatives not designated as hedges on the Company's consolidated statements of operations for the three and nine months ended September 30, 2023 and October 1, 2022 (in thousands):

		Loss or (Gain) Recognized in Income on Derivatives Not Designated as Hedges
		Three Months Ended				Nine Months Ended
Derivatives not designated as hedging instruments	Location	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Foreign exchange	Foreign currency loss/(gain)	$	(237)	$	(3,092)	$	(1,473)	$	39,400
Foreign exchange	Net sales	709		5,348		(268)		6,238
Foreign exchange	Cost of sales and operating expenses	(329)		(597)		(449)		(1,355)
Foreign exchange	Selling, general and administrative expenses	1,096		106		(2,962)		(2,481)
Corn options and futures	Net sales	373		(875)		1,755		(2,160)
Corn options and futures	Cost of sales and operating expenses	(35)		2,526		(2,643)		5,695
Heating Oil swaps and options	Selling, general and administrative expenses	—		—		49		—
Soybean meal	Net sales	179		—		487		—
Total		$	1,756	$	3,416	$	(5,504)	$	45,337